1. An estimated regression equation is as follow. How do you interpret the coefficient on IQ? Note that the unit of wage is $1000.

log(wage) = 5.887+ 0.089* IQ

1. If IQ increases by 15 points, the average salary increase by 0.089*15 percent.
2. If IQ increases by 15 points, the average salary increase by 0.089*15*100 percent.
3. If IQ increases by 15 points, the average salary increase by 0.089*15*1000 percent.
4. If IQ increases by 15 points, the average salary increase by 0.089*15*100 dollars.
5. If IQ increases by 15 points, the average salary increase by 0.089*15*1000 dollars.